Financial Literacy

Money is withdrawn directly from a checking or savings account.

• Debit Card
• Credit Card

Tags

CCSS.6.NS.C.5

Each purchase is a loan that is repaid later.

• Debit Card
• Credit Card

Tags

CCSS.7.RP.A.1

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Consumers can purchase items now and pay for them later.

• Debit Card
• Credit Card

A PIN (Personal Identification Number) is required to make a purchase.

• Debit Card
• Credit Card

Interest may be charged, but can be avoided by paying the entire balance each month.

• Debit Card
• Credit Card

Tags

CCSS.6.NS.B.3

Eric purchased a movie ticket with his card. This money will come out straight from his checking account.  What card did he use?

• Debit Card
• Credit Card

Mrs. Brady took her family out to eat.  She handed the waitress a card to purchase the meal.  this charge appeared on a bill that she paid three weeks later.

• Debit Card
• Credit Card

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

To avoid carrying cash, Ned pays for his lunch using this card.  each time he uses this card his checking account decreases.

• Debit Card
• Credit Card

Tags

CCSS.6.NS.C.5

Which of the following is an advantage of using a credit card?

• Interest is charged for the use of a credit card.

• Consumers can purchase things now, and pay for them later in the event of an emergency.

• You could be a victim of identity theft.

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

True or False: Negative information stays on your credit report for 7-10 years.

• True
• False